New Era Energy & Digital Inc (NASDAQ:NUAI) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of New Era Energy & Digital Inc (NASDAQ:NUAI) have received a consensus rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $10.67.

Several equities research analysts recently weighed in on the company. B. Riley Financial began coverage on New Era Energy & Digital in a report on Tuesday, July 7th. They issued a “buy” rating and a $10.00 price objective for the company. New Street Research set a $10.00 target price on shares of New Era Energy & Digital in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of New Era Energy & Digital from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Northland Securities set a $12.00 price target on shares of New Era Energy & Digital in a research report on Tuesday, August 18th. Finally, Wall Street Zen downgraded shares of New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st.

Institutional Investors Weigh In On New Era Energy & Digital

Several institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP lifted its holdings in New Era Energy & Digital by 113.5% during the 1st quarter. First Trust Advisors LP now owns 1,614,504 shares of the company’s stock worth $6,555,000 after purchasing an additional 858,329 shares in the last quarter. BlackRock Inc. purchased a new position in New Era Energy & Digital during the 2nd quarter valued at about $45,986,000. FirstWave Capital Management LLC purchased a new position in New Era Energy & Digital during the 2nd quarter valued at about $1,608,000. Alyeska Investment Group L.P. bought a new stake in shares of New Era Energy & Digital during the second quarter valued at about $10,927,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of New Era Energy & Digital in the second quarter worth about $1,329,000. Hedge funds and other institutional investors own 21.90% of the company’s stock.

New Era Energy & Digital Trading Down 0.7%

NASDAQ:NUAI opened at $6.94 on Friday. New Era Energy & Digital has a 12 month low of $1.03 and a 12 month high of $9.44. The company has a current ratio of 14.21, a quick ratio of 14.21 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $5.39 and its 200 day moving average is $5.02. The stock has a market capitalization of $739.53 million, a PE ratio of -7.08 and a beta of 1.24.

New Era Energy & Digital (NASDAQ:NUAI) last released its earnings results on Friday, August 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). New Era Energy & Digital had a negative return on equity of 121.41% and a negative net margin of 4,388.71%.The firm had revenue of $0.04 million during the quarter. Sell-side analysts expect that New Era Energy & Digital will post -0.5 earnings per share for the current year.

About New Era Energy & Digital

New Era Energy & Digital, Inc (NASDAQ: NUAI) is an energy and digital-infrastructure company focused on developing and operating assets that connect energy production with data-intensive computing. The company’s activities have included energy projects and digital infrastructure initiatives, including facilities intended to support data centers, high-performance computing and cryptocurrency mining.

The company was formerly known as New Era Helium, Inc, reflecting its earlier focus on helium-related opportunities.